W top just now in the NQ. Or atleast that's what it looks like to me.
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AHG - Profitable Strategy for Struggling Traders
- Thread starter Anekdoten
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Hiya Anek,
I think there may be a W at the top of the YM right now (well, 5 minutes ago)...
Anyhoo, I don't know if this is the answer, it's prolly a bit simplistic, but I'll take a stab: the two equal points of the W or the M represent a point of support or resistance. It becomes a high probability play because of the known point?
Ws and Ms at the top and bottom represent Double Top and Double Bottom failure, which is something that is high probability too?
quote from earlier in the journal...
Not long ago I posted an example on how to ride failures, very powerful stuff as you enter with the trend while most traders are all shook up. It is your duty to readjust your mindset INSTANTLY so you don't become a dead duck, like the rest. This can also be applied to failed head and shoulders and numerous other known patterns. Do not be afraid of small losses.
Basically, as soon as that support is taken, on the first retracement (not too long) wait for a sign of exhaustion, this will help you avoid some of the fake calls. Something like, breaks, pops, a
micro lower low (assuming double bottom failure) and off you go. Use a trendline and highs/lows to guide yourself, once again, be greedy, failure or not these are not scalp types.
I think there may be a W at the top of the YM right now (well, 5 minutes ago)...
Anyhoo, I don't know if this is the answer, it's prolly a bit simplistic, but I'll take a stab: the two equal points of the W or the M represent a point of support or resistance. It becomes a high probability play because of the known point?
Ws and Ms at the top and bottom represent Double Top and Double Bottom failure, which is something that is high probability too?
quote from earlier in the journal...
Not long ago I posted an example on how to ride failures, very powerful stuff as you enter with the trend while most traders are all shook up. It is your duty to readjust your mindset INSTANTLY so you don't become a dead duck, like the rest. This can also be applied to failed head and shoulders and numerous other known patterns. Do not be afraid of small losses.
Basically, as soon as that support is taken, on the first retracement (not too long) wait for a sign of exhaustion, this will help you avoid some of the fake calls. Something like, breaks, pops, a
micro lower low (assuming double bottom failure) and off you go. Use a trendline and highs/lows to guide yourself, once again, be greedy, failure or not these are not scalp types.
X,
Once again that's another perfectly valid logical explanation of the price action but it does not explain why I'm so interested in the rareness aspect of them.
Anek
Once again that's another perfectly valid logical explanation of the price action but it does not explain why I'm so interested in the rareness aspect of them.
Anek
Quote from xiaodre:
Hiya Anek,
I think there may be a W at the top of the YM right now (well, 5 minutes ago)...
Anyhoo, I don't know if this is the answer, it's prolly a bit simplistic, but I'll take a stab: the two equal points of the W or the M represent a point of support or resistance. It becomes a high probability play because of the known point?
Ws and Ms at the top and bottom represent Double Top and Double Bottom failure, which is something that is high probability too?
quote from earlier in the journal...
Not long ago I posted an example on how to ride failures, very powerful stuff as you enter with the trend while most traders are all shook up. It is your duty to readjust your mindset INSTANTLY so you don't become a dead duck, like the rest. This can also be applied to failed head and shoulders and numerous other known patterns. Do not be afraid of small losses.
Basically, as soon as that support is taken, on the first retracement (not too long) wait for a sign of exhaustion, this will help you avoid some of the fake calls. Something like, breaks, pops, a
micro lower low (assuming double bottom failure) and off you go. Use a trendline and highs/lows to guide yourself, once again, be greedy, failure or not these are not scalp types.
This might be very stupid question. Can AHG strategy be used for always being in the market. Depending on the close of the previous bar you do a buy or sell and reverse the trade when the next bar reverses. You use very tight stop losses so that you have all the time small profits and small losses but eventually you will have a big profit and you will never have a big loss because of stops.
Is this idea ridiculous or workable. ?
Is this idea ridiculous or workable. ?
osho, I don't think so because I believe AHG is trend following in nature, and being high probability means going with the trend, and not trading against the trend.
Trading against the trend is also called picking up nickels in front of freight trains (going short in an uptrend), and catching falling knives (going long in a downtrend).
Even if it looks like you are in the market all the time, you prolly just have a shorter timeframe, and you are still trading the setups with the trend...
I could be wrong, though
Trading against the trend is also called picking up nickels in front of freight trains (going short in an uptrend), and catching falling knives (going long in a downtrend).
Even if it looks like you are in the market all the time, you prolly just have a shorter timeframe, and you are still trading the setups with the trend...
I could be wrong, though
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